The owner of the largest hedge fund, Ray Dalio, worries that the state might kill crypto. Even before, he said that the only possible threat to Bitcoin is the state. And the amendment that Senator Warren is forcing for might make that happen. There is a chance that this amendment will not appear, but it might pass, and it will change things entirely for the industry.
Ray Dalio is concerned about the state stepping in and outlawing everything, even though he considers Bitcoin digital gold. Last week, he talked about all of these issues in an interview with CNBC. He also mentioned a perfect example of the gold reserve act 1933 that made it necessary to transfer all privately kept gold and pass it to the US treasury. And if something like that happens, conditions for the crypto industry will get complicated.
He also said that BTC wouldn’t lose its value, but the adoption and usage will become tough and might even stop completely. Ray Dalio also has some amount of Bitcoin. He views it as diversification and considers Bitcoin as an asset. Later, he also said that the state might threaten this but might not affect the situation in the long term.
The questions around Bitcoin still makes him prefer gold over BTC.
In the interview, he also highlighted some facts, such as that crypto adoption is growing, which can be a probable reason the state might reconsider its actions before taking any tough decision against crypto.
Large companies and many people invested in the industry, and this new law might affect them, including the US economy. He also noted that the recent amendment would not be suitable for the industry, and it would affect the overall situation.
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